Winthrop Racing owns a car racing team on the East Coast. On May ...

[BrownTown3]

Winthrop Racing owns a car racing team on the East Coast. On May 25, Winthrop purchased 26,750 worth of racing tires for the cars on its team. To get the Winthrop account, the tire manufacturer offered generous terms of 5/15, net 60 . The discount applies to any amount paid within the discount period. What is the unpaid balance if Winthrop paid 20,00 . on June 5? (This problem involves the partial payment of an invoice within the discount period.)

Question 2

Warm Winters Linen, Inc had ending inventory this year of 250,000 . ending inventory last year of 200,000 . and cost of goods sold of 240,000 . Compute the inventory turnover. (Round answer to two decimal places.)

[helenmarkerine]

Answer to Question 1

100 . - 5 = 95
20,00 . 0.95 = 21,052.63
26,750 - 21,052.63 = 5,697.37 unpaid balance

Answer to Question 2

1.07